BSE Sensex, NSE Nifty were trading flat ahead of TCS’ Q4 results with analysts expecting a weak set of numbers from the IT major.
Experts highlight that the management hinted at decline in revenues at its mid-quarter analyst meet last month.
“We expect 2% q/q USD revenue growth for TCS for the Mar-14 quarter. At its quarterly analyst meeting, management highlighted that sequential revenue growth in Q4FY14 was likely to be weaker than Q3FY14 (in constant currency, 2.1% cc growth in Q3) due to a decline in India revenues. We expect a c30bps q/q decline in its EBIT margin as we believe that operational improvements likely offset some of the impact of reinvestments,” Barclays said in a recent note.
- Soon You Could Get Plastic Currency Notes: Find Out More
- Ranveer Singh and Vaani Kapoor Starrer Befikre Gets A Thumbs Up
- Supreme Court Seeks Centre’s Response Over Various Issues Regarding Demonetisation
- Defence Minister Manohar Parrikar Writes To West Bengal CM Mamata Banerjee
- Bigg Boss 10 December 8 Review: Swami Om Feels Cheated, lashes Out At Gaurav For Jail Punishment
- South Korean President Park Geun-Hye Impeached Over Corruption Scandal
- Former Air Chief SP Tyagi Arrested In VVIP Chopper Scam
- After Congress Vice President Rahul Gandhi, Liquor Baron Vijay Mallya’s Twitter Account Hacked
- Find Out What PM Narendra Modi Told Cabinet Over Demonetisation Decision
- Home Minister Rajnath Singh Assures Safety Of All Tourists Stranded On Havelock Island
- Government To Waive Service Tax On Debit, Credit Card Transactions Of Up To Rs 2,000
- President Pranab Mukherjee Criticises Parliament Disruptions Over Demonetisation
- Pakistan International Airlines Flight Carrying Over 40 Passenger On Board Crashes
- Shah Rukh Khan On Raees Clash With Kaabil: It’s Impossible To Have A Solo Release In India
- US-President Elect Donald Trump Named TIME’s Person Of The Year 2016
Among sectoral indices, the BSE IT (-1.76%), BSE Capital Goods (-0.24%) and BSE Realty (-0.2%) were the major losers. Among individual stocks, Infosys (-2.80%), TCS (-1.83%) and HDFC (-1.03%) were the major losers on the 30-share Sensex.
Most Asian indices were trading in the green. The Nikkei (2.67%), Hang Seng (0.63%), Kospi (0.09%), Straits Times (0.20%) and Shanghai Composite (0.26%) were the major gainers.